Expert Advisors Reviews

The Best Scalper Expert Advisor: Really?

When we reviewed the Smart Pips expert advisor, we mentioned that cheap scalpers are hard to find, especially if it comes to ones with history on real accounts. And today we're exploring an EA that uses a scalping trading strategy, comes along with a price that is not that high and show some solid returns. Fellow traders, meet the Forex robot with the humblest name out there – the Best Scalper EA. I could not skip reviewing this one – such ambitions should be checked.

The robot is a relative newbie, by the way, at least in terms of live trading: you can check out all of the accounts on which it has been working on Myfxbook, but we'll be focusing on the real account with PrimeFX that has been active since February 4, 2014. Yes, I know that the period of activity is short, but we need to take a look at new robots too. Moreover, the developer has done his homework and has produced a backtest of the Best Scalper EA for the period from January 16, 2013 to December 30, 2013. This test shows very decent results, by the way, but I bet that many of you are skeptical regarding backtests of scalpers as these pieces of software are very sensitive when it comes to changes in market environment. The performance changes markedly in tune with market changes.

But let's mention something about the strategy of the EA first. It trades the EUR/USD and the GBP/USD, with its activity centered in the period from 21.00 to 00.00h (GMT). The robot opens a series of positions within short time intervals, keeps them open for a while and then closes them simultaneously. The average trade duration is 36 minutes, which makes this EA not very aggressive. By the way, we should mention that when the robot started trading in February, it was more aggressive – more positions were present in a given series, while the trade duration was only a couple of minutes and sometimes was of meager seconds. Now the situation appears way more moderate.

The performance of the Best Scalper EA is very good: we can say this given the robust returns it delivers.

Photo credit: Myfxbook.

After two months of trading, the robot shows a gain of impressive 80%, and you can see from the chart above that the profit curve is rising (following the controversial start). The drawdown is nicely low at 11%, which suggests low risks of losses. Adding to the positive news, the return-to-drawdown is very solid at 7.3, which means that one can expect some significant returns in exchange for investments.

The results shown in the backtest are also strong – the gain for a year of trading is at massive 518%, while the drawdown is small at 12%.

The sole problem, as with most scalpers, is the sensitivity of the trading system – the average pips per trade are at modest 2.2, which is way below the 5 level that we recommend. The system is very sensitive to sudden market changes, spreads and slippage. You should be very careful when picking a broker for this EA. We suggest that you have a look at the list of Forex brokers that accept scalping and the list of brokers that offer the tightest spreads.

In case you opt for this EA, you may visit the designated website. A Single License will cost you $128, while a Full License will cost you $168. I told you this is not an expensive machine. The price comes along with a 60-day money-back guarantee and includes free updates.

The advantages of the Best Scalper EA are its ability to deliver strong returns in short time, the low drawdown and the small price. The downside is the system's sensitivity and the tough choice of a Forex broker. I'd wait for a year before admitting that this robot suits its name. It appears a solid contender for the title, tough.

Any opinions and statements in this article are strictly subjective and should not be treated as investment advice. Forexbrokerz.com and all of its authors are not affiliates of any of the discussed signal providers, expert advisors and their vendors.

FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.

easyMarkets is a CySEC and ASIC regulated broker offering access to over 300 trading instruments, tight fixed spreads, no slippage and a 50% deposit bonus.

HY Markets is global forex broker with more than 30 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 1.8 pip

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.

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